Multiple Choice
Suppose money supply (M) = $3,960 billion, price level (P) = 1.1, and real GDP (Y) = $7,200 billion. Calculate the value of velocity using the equation of exchange.
A) 1.6
B) 1.8
C) 2.0
D) 2.2
Correct Answer:
Verified
Correct Answer:
Verified
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